#SEC推迟多个现货ETF审批

The price of Bitcoin has recently fluctuated around $95,000, and the market is full of expectations for a breakthrough at the $100,000 mark, but there is also a risk of a pullback. Whether to buy or sell currently depends on the following key factors:

1. Current market trend: short-term pullback or building momentum for a breakthrough?

Short-term pullback signals:

Bitcoin has recently fallen from $95,500 to $93,500, in sync with the decline in U.S. Treasury yields, indicating an increase in market risk-averse sentiment.

The technical chart shows a 'Evening Star' candlestick pattern; if it falls below $91,700, it could lead to further pullbacks.

Potential upward momentum:

The weekly purchase amount of spot Bitcoin ETFs reached $3 billion, indicating strong institutional demand.

Power law models predict that Bitcoin could reach $130,000 to $200,000 by the end of 2025; the current price is still undervalued by 40%.